ON (NYSE:ONON) Price Target Raised to $66.00

ON (NYSE:ONON) had its price target upped by TD Cowen from $65.00 to $66.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities analysts have also recently commented on the company. Citigroup began coverage on ON in a report on Wednesday, December 18th. They issued a “neutral” rating and a $65.00 price target for the company. The Goldman Sachs Group upped their price target on ON from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $53.00 price target on shares of ON in a report on Tuesday, November 12th. Needham & Company LLC began coverage on ON in a report on Friday, November 22nd. They issued a “buy” rating and a $64.00 price target for the company. Finally, KeyCorp upped their price target on ON from $47.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, September 26th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.86.

ON Stock Performance

NYSE ONON opened at $56.65 on Wednesday. ON has a twelve month low of $26.03 and a twelve month high of $60.12. The stock has a market capitalization of $35.67 billion, a PE ratio of 131.75 and a beta of 2.30. The stock has a 50-day simple moving average of $55.10 and a 200 day simple moving average of $48.02.

Institutional Trading of ON

Several institutional investors and hedge funds have recently bought and sold shares of ONON. 1832 Asset Management L.P. raised its holdings in ON by 66,838.9% during the second quarter. 1832 Asset Management L.P. now owns 2,409,800 shares of the company’s stock worth $93,500,000 after acquiring an additional 2,406,200 shares in the last quarter. Renaissance Technologies LLC acquired a new position in ON during the second quarter worth approximately $27,975,000. Kayne Anderson Rudnick Investment Management LLC increased its position in ON by 100.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,281,339 shares of the company’s stock worth $49,716,000 after buying an additional 642,894 shares during the last quarter. Cerity Partners LLC increased its position in ON by 189.9% during the third quarter. Cerity Partners LLC now owns 719,493 shares of the company’s stock worth $36,083,000 after buying an additional 471,323 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its position in ON by 338.3% during the third quarter. Lord Abbett & CO. LLC now owns 594,901 shares of the company’s stock worth $29,834,000 after buying an additional 459,157 shares during the last quarter. Institutional investors own 36.39% of the company’s stock.

About ON

On Holding AG engages in the development and distribution of sports products such as footwear, apparel, and accessories for high-performance running, outdoor, and all-day activities. It sells its products worldwide through independent retailers and global distributors, its own online presence, and its own high-end stores.